Polatis Raises £2M First Round

Fiber optic switch developer Polatis has announced a £2 million investment package from a venture capital syndicate comprising Alta Berkely and 3i.The startup, which was founded last June, is developing a large scale all-optical switch based on undisclosed technology.

Chief Executive Andrew Dames, who founded Polatis in June 2000, said he was delighted with the news.

Laurence Garrett, Investment Director at 3i plc, said: “We are delighted to be investing in this exciting company. The optical cross connect market has huge potential, and the company’s unique technology has a great chance of capturing the market share.

Tim Brown, Partner at Alta Berkeley Venture Partners, said “It is not unexpected to find at the centre of a Cambridge-based company a brilliant technical innovator such as Andrew Dames. However, the blend of this flair with a pragmatic, market-focused approach is something special and we are delighted to be able to add financial muscle to this mix”.

See UK Startup Develops Mystery Switch.

http://www.polatis.com